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Tech

Tesla's fully autonomous car plans spook investors

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Opening sequence

Tech

Tesla's fully autonomous car plans spook investors

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COMING UP:Tesla's fully autonomous car plans spook investors

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Transcript

00:00:01
>> Test love posting this video of a completely autonomous Model X Thursday. One day after its surprise announcement that a Tesla will drive itself from LA to New York by late next year. That's spooking investors, who pushed the stock down by as much as 3% Thursday. Tesla still faces an investigation into a fatal crash in Florida involving a model S which was on autopilot, the semi-autonomous mode.
00:00:28
But CEO Elon Musk is pressing ahead, equipping cars currently in production with new self-driving hardware, even though it's not clear if Tesla will get regulatory clearance for a fully-autonomous car. That's the holy grail for many companies, ranging from Ford to Google, but perfecting the technology is still many years away, says Reuters reporter Alexandria Sage.
00:00:52
>> People in the industry are a bit skeptical because every other, practically every other auto maker who is working on self-driving technology is using a system called Lidar. A laser-based sensor they say is necessary for safe, full-autonomous driving. Tesla isn't using it.>> Tesla customers who will get the cars with the new hardware won't even be able to get the semi-autonomous feature for several months, as Tesla works out the kinks.
00:01:21
That function, and eventually the fully self-driving mode, will be updated over the air later, leaving some uncertainty for owners of the new cars. The latest announcement from Tesla an effort by Musk to maintain investor interest as the company is expected to try and raise more cash within the next 12 months.